Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Founder Arrested, $3.5M in Crypto Seized

by Index Investing News
January 5, 2024
in Cryptocurrency
Reading Time: 4 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


The authorities in Taiwan raided the premises of a local crypto exchange, Ace Exchange, and arrested the co-founder, David Pan, for alleged fraud, local media Liberty Times reported yesterday (Thursday).

Pan was one of the 14 people from Ace Exchange arrested by the Taiwan police. The arrests were made as the police raided several locations connected to the cryptocurrency exchange, including its headquarters in Taipei City. The police seized a massive amount of cash from Pan’s residence and 108 million Taiwanese dollars (about $3.48 million) worth of cryptocurrencies from the company. Reports suggest that Pan and other individuals are not cooperating with the investigation.

The authorities alleged that the individuals at Ace earned roughly 200 million Taiwanese dollars (about US$6.4 million) by deceiving the crypto investors with false claims. Over the past three years, over 100 crypto investors have fallen victim to fraudulent claims.

According to the Taiwan police, Pan ran fraudulent advertisements on social media, including Facebook and Instagram, promoting ‘get-rich-quick’ schemes.

Keep Reading

Launched in November 2018, Ace is one of Taiwan’s top three cryptocurrency exchanges, along with MaiCoin and BitoGroup. It is one of the members of the local industry association, which was formed with the changing regulatory requirements in the country.

Exchange Operations Remain Normal

In a statement, the exchange clarified that the police action was against its “token project side” and not on the exchange operations.

各位可能有看到新聞了。 ACE 在這邊澄清該行為是代幣項目方行為,跟交易所營運沒關聯。目前營運都正常,如有遇到提幣問題 可以透過我們官方渠道詢問

【ACE王牌法幣加密貨幣交易所聲明稿】https://t.co/VnoekKpWL2

— ACE Exchange (@ACE_exchange) January 4, 2024

“Some currencies listed in 2019 were involved in illegal activities,” Wang Chenhuan, President of ACE Exchange, wrote in a blog post following the police action. “ACE is cooperating with the investigation as a witness.“

“Some media reported that our employees were involved in the case, which is not true. We have sent a letter to the media to correct it.”

Meanwhile, Ace will delist the MOCT/TWD trading pair next Monday, highlighting that “subsequent currency deposit and withdrawal functions will not be affected.”

Last November, the COO of another Taiwanese crypto exchange was arrested for his alleged connection with an infamous money laundering incident in the country.

The authorities in Taiwan raided the premises of a local crypto exchange, Ace Exchange, and arrested the co-founder, David Pan, for alleged fraud, local media Liberty Times reported yesterday (Thursday).

Pan was one of the 14 people from Ace Exchange arrested by the Taiwan police. The arrests were made as the police raided several locations connected to the cryptocurrency exchange, including its headquarters in Taipei City. The police seized a massive amount of cash from Pan’s residence and 108 million Taiwanese dollars (about $3.48 million) worth of cryptocurrencies from the company. Reports suggest that Pan and other individuals are not cooperating with the investigation.

The authorities alleged that the individuals at Ace earned roughly 200 million Taiwanese dollars (about US$6.4 million) by deceiving the crypto investors with false claims. Over the past three years, over 100 crypto investors have fallen victim to fraudulent claims.

According to the Taiwan police, Pan ran fraudulent advertisements on social media, including Facebook and Instagram, promoting ‘get-rich-quick’ schemes.

Keep Reading

Launched in November 2018, Ace is one of Taiwan’s top three cryptocurrency exchanges, along with MaiCoin and BitoGroup. It is one of the members of the local industry association, which was formed with the changing regulatory requirements in the country.

Exchange Operations Remain Normal

In a statement, the exchange clarified that the police action was against its “token project side” and not on the exchange operations.

各位可能有看到新聞了。 ACE 在這邊澄清該行為是代幣項目方行為,跟交易所營運沒關聯。目前營運都正常,如有遇到提幣問題 可以透過我們官方渠道詢問

【ACE王牌法幣加密貨幣交易所聲明稿】https://t.co/VnoekKpWL2

— ACE Exchange (@ACE_exchange) January 4, 2024

“Some currencies listed in 2019 were involved in illegal activities,” Wang Chenhuan, President of ACE Exchange, wrote in a blog post following the police action. “ACE is cooperating with the investigation as a witness.“

“Some media reported that our employees were involved in the case, which is not true. We have sent a letter to the media to correct it.”

Meanwhile, Ace will delist the MOCT/TWD trading pair next Monday, highlighting that “subsequent currency deposit and withdrawal functions will not be affected.”

Last November, the COO of another Taiwanese crypto exchange was arrested for his alleged connection with an infamous money laundering incident in the country.





Source link

Tags: 35marrestedCryptoFounderseized
ShareTweetShareShare
Previous Post

In Iowa, school shooting prompts Republican prayers, while Trump campaigns by proxy By Reuters

Next Post

Dyne Therapeutics prices stock offering to raise $300.1 million

Related Posts

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

by Index Investing News
May 24, 2025
0

Opeyemi is a proficient author and fanatic within the thrilling and distinctive cryptocurrency realm. Whereas the digital asset business was...

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

by Index Investing News
May 24, 2025
0

Jiuzi Holdings, Inc. plans to amass 1,000 bitcoins over the approaching 12 months by means of a mix of recent...

Extra crypto companies to return?

Extra crypto companies to return?

by Index Investing News
May 24, 2025
0

This previous week, Coinbase joined the S&P 500, one of many world’s most elite inventory indexes — a triumph for...

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

by Index Investing News
May 24, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure Crypto analyst CrediBULL Crypto has commented...

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds .25B BTC

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds $1.25B BTC

by Index Investing News
May 23, 2025
0

Blockchain analytics platform Arkham Intelligence has revealed that Tesla Inc.’s Bitcoin (BTC) holdings are actually value round $1.25 billion. With...

Next Post
Dyne Therapeutics prices stock offering to raise 0.1 million

Dyne Therapeutics prices stock offering to raise $300.1 million

Man Utd keen to sign next Moises Caicedo Oscar Zambrano

Man Utd keen to sign next Moises Caicedo Oscar Zambrano

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Working on alternative logistic corridors linking India with the Pacific and Atlantic Ocean: S Jaishankar

Working on alternative logistic corridors linking India with the Pacific and Atlantic Ocean: S Jaishankar

April 2, 2024
Sam’s Membership broadcasts new enlargement plan, will open new shops every year

Sam’s Membership broadcasts new enlargement plan, will open new shops every year

April 14, 2025
Bloom Power: Poor Q3 Outcomes And Overly Aggressive Full-Yr Projections, Promote (NYSE:BE)

Bloom Power: Poor Q3 Outcomes And Overly Aggressive Full-Yr Projections, Promote (NYSE:BE)

November 12, 2024
Poor Netanyahu – Econlib

Poor Netanyahu – Econlib

April 5, 2025
Is Graduate Econ Faculty a Good Concept?

Is Graduate Econ Faculty a Good Concept?

November 30, 2024
What does BITO say about the fate of a spot Bitcoin ETF?

What does BITO say about the fate of a spot Bitcoin ETF?

November 11, 2023
MV Realty Barred From Imposing 40-Yr Contract In California

MV Realty Barred From Imposing 40-Yr Contract In California

September 23, 2024
Anyplace Actual Property Inc. 2025 Q1 – Outcomes – Earnings Name Presentation (NYSE:HOUS)

Anyplace Actual Property Inc. 2025 Q1 – Outcomes – Earnings Name Presentation (NYSE:HOUS)

April 29, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In